Multi Banking Collateral Facility
India ICC has introduced Multi Banking Collateral Facility for Clearing Members. Under this, Clearing Members can deposit as well as withdraw cash collaterals, from one or more Clearing Banks of India ICC at IFSC, GIFT City, Gandhinagar, provided the Clearing Member has accounts with the banks.
For availing Multi Banking Collateral Facility, Clearing Members are requested to send an email to India ICC at firstname.lastname@example.org, giving details of their account numbers and bank names. Once the details are confirmed by India ICC through return mail, Clearing Member can start using the Multi Banking Collateral Facility. They can deposit as well as withdraw cash collateral from Clearing Banks which have been informed to India ICC by Clearing Member. Clearing Members can withdraw cash collateral, from a particular Clearing Bank, only up to the amount of cash collateral deposited through the particular bank.